KakaoBank Dormant Deposits and Insurance Claims Retrieval Exceeds 1 Million Cases

[Asia Economy Reporter Kiho Sung] The number of inquiries for KakaoBank's dormant deposit and insurance money retrieval service has surpassed 1 million within just two weeks of its launch.

According to KakaoBank on the 5th, a total of 275,000 cases of dormant deposits and dormant insurance money have been retrieved through the KakaoBank app, amounting to a total of 5.6 billion KRW (data compiled as of midnight on the 4th).

The highest payout amount was approximately 9.69 million KRW, with an average of 30,371 KRW retrieved per person from dormant deposits and insurance money. There were also 766 customers who retrieved large amounts exceeding 1 million KRW.

By age group, the payout proportion was highest among middle-aged and older adults aged 40 and above at 59.2%. Those in their 30s accounted for 30.8%, and those aged 20 and below made up 10%. KakaoBank evaluated that among new members who signed up to use the dormant deposit and insurance money retrieval service, 67% were middle-aged and older adults aged 40 and above, indicating strong popularity among this demographic.

Any customer who opens a KakaoBank account can use this service. It allows for easy inquiry and application for both dormant deposits and dormant insurance money at once.